Results 11 to 20 of about 193,187 (292)
Evaluation Periods and Asset Prices in a Market Experiment [PDF]
The Journal of Finance, 2003 ABSTRACTWe test whether the frequency of feedback information about the performance of an investment portfolio and the flexibility with which the investor can change the portfolio influence her risk attitude in markets. In line with the prediction of myopic loss aversion (Benartzi and Thaler (1995)), we find that more information and more flexibility ...
Uri Gneezy, Arie Kapteyn, Jan Potters
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Mental Capabilities, Trading Styles, and Asset Market Bubbles: Theory and Experiment [PDF]
SSRN Electronic Journal, 2016 We propose that heterogeneous asset trading behavior is the result of two distinct, non-convertible mental dimensions: analytical (“quantitative”) capability and mentalizing (“perspective-taking”) capability. We develop a framework of mental capabilities that yields testable predictions about individual trading behavior, revenue distribution and ...
Hefti, Andreas +2 more
+6 more sources
Information mirages and financial contagion in an asset market experiment [PDF]
Journal of Economic Studies, 2014 Purpose – The purpose of this paper is to consider whether asymmetric information about correlations between assets can induce financial contagion. Contagion, unjustified by fundamentals, would arise if participants react in one market to uninformative trades in the other market that actually convey no relevant ...
Noussair, C.N., Xu, Yilong
+7 more sources
Bubbles, crashes and information contagion in large-group asset market experiments [PDF]
Experimental Economics, 2019 AbstractWe study the emergence of bubbles in a laboratory experiment with large groups of individuals. The realized price is the aggregation of the forecasts of a group of individuals, with positive expectations feedback through speculative demand.
Cars Hommes +2 more
+7 more sources
Fundamental Value Trajectories and Trader Characteristics in an Asset Market Experiment [PDF]
SSRN Electronic Journal, 2014 Abstract: We report results from an asset market experiment, in which we investigate how the time path of the fundamental value trajectory affects the level of adherence to fundamentals. In contrast to previous experiments with long-lived assets, there is a phase in which fundamental values are constant before the onset of a trend.
Adriana Breaban, Charles N. Noussair
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GIMS—Software for asset market experiments [PDF]
Journal of Behavioral and Experimental Finance, 2015 In this article we lay out requirements for an experimental market software for financial and economic research. We then discuss existing solutions. Finally, we introduce GIMS, an open source market software which is characterized by extensibility and ease of use, while offering nearly all of the required functionality.
Stefan Palan
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Can Asset Markets Be Manipulated? A Field Experiment With Racetrack Betting [PDF]
Journal of Political Economy, 1998 To test whether naturally-occurring markets can be strategically manipulated, $500 bets were made at a large racetrack, then cancelled. The net effects of these costless bets gives clues about whether market participants react to information potentially contained in large bets.
Colin F. Camerer
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Contagion and Return Predictability in Asset Markets: An Experiment With Two Lucas Trees [PDF]
SSRN Electronic Journal, 2019 Using a laboratory experiment, we investigate whether contagion can emerge between two risky assets despite an absence of correlation in their fundamentals. To guide our experimental design, we use the ‘Two trees’ asset pricing model developed by Cochrane, Longstaff and Santa-Clara (2007).
Noussair, C.N. +1 more
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Expectations and bubbles in asset market experiments
, 2019 This thesis presents laboratory experiments to examine various aspects of bubble formation in asset markets. The experimental approach provides a controlled environment that allows for studying the interaction between individual expectations, group behavior and market outcomes.
Myrna Hennequin
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Are asset markets efficient? Evidence from Economic experiments
Вестник Санкт-Петербургского университета. Серия 5. Экономика, 2014 The assumed superiority of market economy compared with central planning is based on the belief that markets are able to aggregate disperse information about production costs and demand of goods in the form of efficient market prices. Asset markets and futures markets for commodities and assets are believed to evaluate expected future developments as ...
Bolle Friedel
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